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The role of escrow in the sale or purchase of a home is to ensure the following steps and requirements are met by all parties involved in the real estate contract:
- Both the Buyer and Seller complete all forms and instructions necessary to complete the transaction.
- The Buyer deposits funds sufficient to meet the total sales price plus costs.
- The Seller deposits a deed to the property in favor of the Buyer.
- The Seller furnishes all required disclosure reports.
- The new lender deposits loan proceeds.
Once all conditions of the escrow have been met, the deed is recorded to transfer the ownership interest in the property to the Buyer, and net proceeds are paid to the Sellers.
Choosing an escrow company that will treat your closing with personal attention and the highest level of customer service is a crucial component of your timely closing. Your Escrow Officer must meet every deadline and understand each factor in your transaction. Foundation Escrow understands that every real estate transaction has its own unique combination of circumstances, and our Escrow Officers possess the education and experience to overcome both the anticipated and unforeseen challenges.